NSB re-launches ‘Ithuru Mithuru’ as ‘I’m’

By Divya Thotawatte

The National Savings Bank (NSB) last week reintroduced its popular ‘Ithuru Mithuru’ account as ‘NSB I’m’ to offer more value to its customers.

“‘NSB I’m’ is launched with the prime intention of facilitating the Sri Lankan youth to realise their dreams while ensuring for them a novel banking experience with more privileges and benefits. Individuals who are in the ages between 20-30 years are able to open an NSB I’m account and maintain till 35 years of age,” NSB GM and CEO Dhammika Perera said.

“The bank also wishes to help the NSB I’m account holders with the challenges that they face regarding the limited availability of higher education and encourage them in their studies by granting NSB Buddhi Educational Loans under concessionary interest rates,” added Perera.

The ‘I’m’ account can be opened with a minimum deposit of Rs. 2,000 and an attractive interest rate is offered with the Government guarantee. In addition to the financial benefits special gifts like caps, mugs, and notebooks with ‘NSB I’m’ logo are offered for the deposits made to the ‘NSB I’m’ account.

A gift token to the value of 2% of the existing balance of the account will be offered by the bank for the 21st birthday of the account holder.Moreover if the account holder has been qualified to follow or already following a degree course in a university as at the 21st birthday he/she will receive a gift token to the value of 2.5% from the existing balance of the account.

The ‘Kiriketi Hapan’ account with a deposit of Rs. 2,500 is opened by the bank for the birth of the first child of ‘NSB I’m’ account holders. Undergraduate account holders will be able to receive a scholarship of Rs. 2,500 monthly. ‘Ithuru Mithuru’ account holders and ‘Hapan’ account holders who are below 19 years of age will also be eligible for this scholarship program.

Furthermore, an insurance coverage of Rs. 200,000 for a concessionary monthly premium from Sri Lanka Insurance is available for ‘NSB I’m’ account holders and discounts will be granted for other insurance coverage.

“In both NSB and SLIC, the co-product that we are selling is the trust. So I think over a period of time in both the organisations the customer base was more towards the elderly part of the population but now it is time that we market it to the youth. I think this will be the most important thing to get into a partnership with,” said Sri Lanka Insurance Corporation Director Nilu Wijedasa.

‘I’m’ account holders are also benefitted with exclusive health benefits through the Ayobo Life Health App which National Savings Bank ensures in collaboration with Digital Healthcare Solution Ltd. of Hemas Group of Companies. Challenges are organised weekly and monthly to facilitate the good health and wellbeing of the account holders.

“NSB, being the safest bank in Sri Lanka, has decided to give its accountholders the same safety through digital health wellness. Noncommunicable diseases has become a major problem and 85% of deaths in Sri Lanka are due to these diseases. That is why NSB brings us one of the most convenient ways to help us be safe from noncommunicable diseases,” explained Ayubo Life CEO and Director Dr. Chamila Ariyananda.

National Savings Bank has also taken measures to provide the opportunity of professional education for concessionary rates for ‘I’m’ account holders in coordination with several professional educational institutions in the country. Accordingly, Business Management School (BMS) offers a 20% discount on any course, Colombo International Nautical and Engineering College offers a 10% discount on the registration fee, Metropolitan College Sri Lanka offers a 10% discount on the payment of the course fee at once and Informatics Institute of Technology (IIT) offers a 50% discount in the registration fee.

Moreover, ‘NSB I’m’ account-holding young entrepreneurs who wish to start or are already engaged in a business are capable of getting loans under ‘NSB Diriya’ loan scheme at concessionary interest rates.

Pix by Ruwan Walpola